Aberforth Smaller Companies Trust plc ("ASCOT")

The Net Asset Values ("NAVs") per Ordinary Share for the above company as at
the close of business on 15 January 2014 were:-

Excluding current year Revenue = 1,228.54p

Including ALL Revenue = 1,249.95p

ASCOT has bank debt facilities available to allow gearing of up to 8.4% of
Shareholders' Funds. Current gearing is 2.4%. There are currently 95,382,792
Ordinary Shares of 1p in issue.

Contact - David Holland (Tel: 0131 220 0733)

Aberforth Partners LLP, Secretaries - 16 January 2014
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